Starting Out with QuickBooks Online
GST Setup Lodging your Business Activity Statement (BAS) or Instalment Activity Statement (IAS) on time is an important part of operating an Australian business. When cash flow is tight, no-one wants to pay Failure to Lodge (FTL) penalties in addition to other expenses. In this section we will cover setup, how to use tax centre and reporting. Important: If you are not registered for GST – do not use this feature as many settings are permanent changes to your file. When setting up a new company file, attention should be paid to the settings for GST as these settings cannot be modified once established as part of the company set up. Make sure the GST period beginning is correct as THIS CANNOT BE CHANGED.
Here are the steps to setup your clients Tax Centre. 1. Select the GST option from the left hand navigation menu. 2. Click Get started
This will display the Set up BAS screen. 3. Select the correct BAS, PAYG Withholding and PAYG Instalments frequencies
If you require other tax reporting options, click the Show other taxes button and tick the relevant tax
4. Click Save and Finish 5. Click Done
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